Technical Update - DAX, AEX25, BEL20, CAC40 and SMI20 Technical Update - DAX, AEX25, BEL20, CAC40 and SMI20 Technical Update - DAX, AEX25, BEL20, CAC40 and SMI20

Technical Update - DAX, AEX25, BEL20, CAC40 and SMI20

Equities 4 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank

Summary:  In this Technical Update: DAX / GER40, AEX25 / NETH25, BEL20 / BELG20, CAC40 / FRA40 and SMI20 / SWISS20


DAX is range bound between 16,060 and 15,482. Break out needed for direction. Negative sentiment on RSI is indicating break is to be to the down side, and with the 55 and 100 Moving Average slightly declining the underlying trend sentiment is bearish.

If closing below key support at around 15,482 there is downside risk to around 15K.

Breaking bullish can be a struggle with the two Moving Average acting as a ceiling. It could be a struggle for DAX to penetrate. But if it does a move to July peak around 16,500 is likely
dax d 1409
Source all charts and data: Saxo Group
ger40 d 1409
AEX25/NETH25 is bouncing from key strong support at around 730. However, the trend is down and there is no RSI divergence supporting the view of lower AEX levels. If AEX is closing below 730 a swift sell-off down to around 716-710 support is likely.

For AEX to demolish the bearish trend a close above 755 is needed.

However, with the 55 Moving Average on the verge of breaking below the 100 while they are bot declining thus forming a Death Cross upside potential is limited. That is not bullish for AEX
aex25 d 1409
neth25 d 1409

BEL20/BELG20 is side stepping failing to close above key resistance at around 3,696.
RSI sentiment is negative indicating BEL20 is likely to trade lower in coming days and weeks.

A close below 3,610 could ignite a sell off down to around 3,600-3,550.

A close above 3,696 is needed for BEL20 to reverse to uptrend

bel20 d 1409
belg20 d 1409
CAC40/FRA40 Index has been range bound since April with a bearish undertone. The 200 Moving Average is providing support  but upside potential seems limited with the Index moving below declining 55 and 100 Moving Averages. A re-test of key strong support at around 7,082 is in the cards.

If CAC40 is closing below 7,082 there is no strong support until around 6,900
cac40 d 1409
fra40 d 1409
SMI20/SWISS20 is forming symmetrical triangle pattern. Break out is needed for direction.
Break out direction is likely to be to the downside as indicated by the negative RSI sentiment and all Moving Averages declining

If that is the scenario that will play out SMI has downside potential to around 10,515 before finding support.
Minor support at around 10,750.

If Bullish break out there is strong overhead resistance with the declining Moving Averages above the Index.
A close above 11,173 is needed for bullish trend
smi20 d 1409
swiss20 d 1409

Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.

Please read our disclaimers:
Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)
Full disclaimer (https://www.home.saxo/legal/disclaimer/saxo-disclaimer)
Full disclaimer (https://www.home.saxo/legal/saxoselect-disclaimer/disclaimer)

Saxo Bank A/S (Headquarters)
Philip Heymans Alle 15
2900
Hellerup
Denmark

Contact Saxo

Select region

International
International

Trade responsibly
All trading carries risk. Read more. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

This website can be accessed worldwide however the information on the website is related to Saxo Bank A/S and is not specific to any entity of Saxo Bank Group. All clients will directly engage with Saxo Bank A/S and all client agreements will be entered into with Saxo Bank A/S and thus governed by Danish Law.

Apple and the Apple logo are trademarks of Apple Inc, registered in the US and other countries and regions. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC.